secwatch.observer — SEC 8-K summary
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Issuer:     WestRock Co (—)
CIK:        0001732845
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001157523-23-001208
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WestRock to close Tacoma paper mill by Sep 30; expects $345M in charges
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- Permanent closure of Tacoma mill with production ending Sep 30, 2023; 400 employees affected.
- Aggregate charges of ~$345M: $247M asset write-downs, $12M severance, $86M other restructuring.
- Charges recognized mostly Q4 FY2023; ~two-thirds non-cash; cash portion paid over ~2 years.
- Mill produces 510,000 tons/yr of kraft liner and pulp; majority production transitioned to other WestRock mills.
- CEO cites high operating costs and need for significant capital investment as reasons.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1732845/000115752323001208/0001157523-23-001208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1732845/000115752323001208/a53493039.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001208

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